International Business News - MGA http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif The financial woes of U.S. automakers have grabbed Washington's attention, but similar problems at auto suppliers have the potential to set off a cataclysmic chain of events in the industry if key parts makers run out of cash and fail. http://www.ibtimes.com/articles/20081116/experts-supplier-woes-put-auto-industry-in-danger.htm Sun, 16 Nov 2008 16:21:16 EST Standard & Poor's cut its ratings on two auto parts suppliers and warned several others could be next, citing the steep downturn in the auto industry. http://www.ibtimes.com/articles/20081113/s-p-cuts-2-parts-suppliers-warns-on-13-others.htm Thu, 13 Nov 2008 14:39:54 EST Among the stock activity stories for Wednesday, Nov. 12, from AP Financial News: NEW YORK (AP)--Shares of JA Solar Holdings Co. tumbled Wednesday after the maker of solar cells reported a third-quarter loss and revenue forecasts below Wall Street expectations. http://www.ibtimes.com/articles/20081112/movers-roundup-ja-solar-bob-evans-farms.htm Wed, 12 Nov 2008 17:42:10 EST Shares of Magna International Inc. fell sharply on Wednesday as an analyst cut his earnings estimate on the auto parts supplier, citing the slowdown in vehicle sales. http://www.ibtimes.com/articles/20081112/magna-international-dips-as-analyst-cuts-estimates.htm Wed, 12 Nov 2008 18:57:20 EST Among the earnings projection stories for Tuesday, Nov. 4, from AP Financial News: NEW YORK (AP)--Magna International Inc. on Tuesday cut its full-year sales guidance, citing the continued slump in North American and European automotive markets. http://www.ibtimes.com/articles/20081104/outlook-roundup-magna-rcn.htm Tue, 04 Nov 2008 11:07:14 EST Among the earnings stories for Tuesday, Nov. 4, from AP Financial News: Strong box office revenue for film 'Iron Man' helped boost Marvel Entertainment Inc.'s third-quarter earnings by 39 percent, and the licensing and comic-book publishing company on Tuesday also raised its 2008 forecast. But 2009 will prove a different picture with Marvel expecting only "modest" performance next year. http://www.ibtimes.com/articles/20081104/earnings-roundup-marvel-entertainment-magna.htm Tue, 04 Nov 2008 11:05:32 EST Magna International Inc. on Tuesday cut its full-year sales guidance citing the continued slump in the North American and European automotive markets. http://www.ibtimes.com/articles/20081104/magna-international-cuts-2008-sales-guidance.htm Tue, 04 Nov 2008 08:48:42 EST Magna International Inc. said Tuesday it cut its quarterly cash dividend in half, citing expectations automotive industry conditions will not improve in the near future. http://www.ibtimes.com/articles/20081104/magna-cuts-dividend-in-half-to-18-cents.htm Tue, 04 Nov 2008 08:34:22 EST Canadian auto parts maker Magna International Inc. said Tuesday it lost $215 million in the third quarter, citing a continued decline in North American vehicle production that spread to European markets. It cut its full-year sales guidance and slashed its dividend, saying it doesn't expect demand for cars and trucks to improve anytime soon. http://www.ibtimes.com/articles/20081104/magna-swings-to-3q-loss-on-charges-lower-sales.htm Tue, 04 Nov 2008 18:37:35 EST Steep drops in vehicle production both at home and abroad, along with the ongoing turmoil in the financial markets, are expected to push many auto suppliers to third-quarter losses and prompt more jobs cuts and plant closings as the companies struggle to survive. http://www.ibtimes.com/articles/20081029/auto-suppliers-expected-to-post-rough-3q-results.htm Wed, 29 Oct 2008 17:20:21 EDT Russia's business elite is ripe for a dramatic reshuffle as the country's worst stock market crash in a decade wipes tens of billions off their fortunes in a matter of weeks. http://www.ibtimes.com/articles/20081014/global-crisis-triggers-reshuffle-of-russias-rich.htm Tue, 14 Oct 2008 10:37:47 EDT Daimler AG said Tuesday that its North American truck division will drop its Sterling brand and end production at plants in Oregon and Ontario by mid-2010 as it moves to deal with depressed demand. http://www.ibtimes.com/articles/20081014/daimler-to-drop-sterling-truck-brand.htm Tue, 14 Oct 2008 13:40:07 EDT Shares of General Motors Corp. lost nearly one-third of their value Thursday, plunging to their lowest level in more than 58 years after Standard & Poor's said the automaker's credit could fall further into junk status due to the "rapidly weakening state" of the global automotive market. http://www.ibtimes.com/data/articleimgs/148294-auto-stocks.jpg http://www.ibtimes.com/articles/20081009/gm-shares-tumble-to-58-year-low.htm http://www.ibtimes.com/articles/20081009/gm-shares-tumble-to-58-year-low.htm Thu, 09 Oct 2008 19:06:30 EDT Shares of Magna International Inc. plunged to an 8-year low Friday, after Russia's richest man was forced to cede a 20 percent stake in the Canadian auto parts company. http://www.ibtimes.com/articles/20081003/magna-shares-tumble-after-investor-sells-shares.htm Fri, 03 Oct 2008 19:59:47 EDT Oleg Deripaska, regarded as Russia's richest man, has been forced to cede a 20 percent stake in Canadian car parts maker Magna International Inc. to creditors, making him one of the highest-profile Russian victims of the global financial crisis. http://www.ibtimes.com/articles/20081003/russian-tycoon-forced-into-magna-sale.htm Fri, 03 Oct 2008 16:50:17 EDT An analyst cut his earnings estimates on several auto parts suppliers on Thursday, citing weakening demand in Europe. Deutsche Bank's Rod Lache said he expects auto demand in Western Europe to decline 6 percent in 2009 on top of a 6-percent drop already forecast for 2008. This slower demand is likely to be compounded by a weakening euro, he said. http://www.ibtimes.com/articles/20080911/ahead-of-the-bell-analyst-cuts-auto-parts-outlook.htm Thu, 11 Sep 2008 09:20:02 EDT Shares of several auto suppliers fell Wednesday as investors fretted about just how long the slump in the U.S. economy will last and its possible impact on vehicle production. http://www.ibtimes.com/articles/20080827/sector-snap-auto-suppliers-slide.htm Wed, 27 Aug 2008 11:34:09 EDT An analyst downgraded the auto parts sector Wednesday and cut an array of individual stocks, saying uncertainty remains about the health of the U.S. economy and the auto market. http://www.ibtimes.com/articles/20080827/ahead-of-the-bell-analyst-cuts-auto-parts-sector.htm Wed, 27 Aug 2008 08:11:09 EDT Shares of the automakers and their suppliers tumbled Wednesday, along with the broader market, after Moody's Investors Service cut its ratings on General Motors Corp. another notch into junk status and oil prices spiked. http://www.ibtimes.com/articles/20080813/sector-snap-automakers-suppliers-fall.htm Wed, 13 Aug 2008 12:06:01 EDT Among the earnings stories for Thursday, Aug. 7, from AP Financial News: NEW YORK (AP)--After moving to a profit in its second quarter, shares of bagel chain Einstein Noah Restaurant Group Inc. jumped Thursday. http://www.ibtimes.com/articles/20080807/earnings-roundup-einstein-noah-ocharleys.htm Thu, 07 Aug 2008 18:11:19 EDT